StockMarketWire.com - Quality assurance group Intertek maintained its dividend and said it expected performance to improve in the second half of the year after reporting a decline in first-half profit on lower revenue.

For the six months ended 30 June, pre-tax profit fell 36% to £130.8m and revenue fell 7.8% to £1,330.6m on-year.

The adjusted operating margin fell 460 basis points to 12.6%.

Its products and trade businesses, which made up the bulk of revenue, reported a decline of 8.4% and 10.2%, respectively.

The interim dividend payment was maintained at 34.2p.

Citing a number of headwinds impairing its outlook including the lack of visibility on when the global lockdown restrictions would be fully lifted, Intertek said it was difficult to assess the full impact of Covid-19, but added that it expected the second half of the year 'to be better than the first half.'

In a seperate statement, the company said it had launched a new PPE partnership with textile company Beximco.

Under the agreement, Intertek would have exclusive rights to operate and manage Beximco new PPE quality assurance laboratory, which was located in Dhaka, Bangladesh.



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